UNITED STATES SECURITIES AND EXCHANGE ~~COMMISSIONWASHINGTON~~COMMISSION WASHINGTON, D.C. 20549

FORM 8-K

CURRENT ~~REPORT Pursuant~~REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of ~~earliest~~first ~~event~~reportable ~~reported~~event): ~~November~~March 195, ~~2008~~2009 (February 26, 2009)

VELOCITY ASSET MANAGEMENT, INC.
(Exact name of registrant as specified in Charter)
Delaware	000-161570	65-0008442
(State or other jurisdiction of incorporation)	(Commission file no.)	(IRS employer identification no.)

VELOCITY PORTFOLIO GROUP, INC.

(Exact name of registrant as specified in Charter)

48 S. Franklin Turnpike, 3rd Floor, Ramsey, NJ	07446
Delaware	000-161570	65-0008442
(Address of Principal Executive Offices)	(Zip Code)
(State or other jurisdiction of incorporation)	(Commission file no.)	(IRS employer identification no.)
Registrant’s telephone number, including area code: (201-760-6306)
(Former Name or Former Address, if Changed Since Last Report)


1800 Route 34 North Building 4, Suite 404A Wall, NJ		07719

(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (201-760-6306)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8.01.	Other Events.

On ~~November~~February 1926, ~~2008~~2009, Velocity Portfolio Group, Inc. (the “Company”) issued a press release announcing it has temporarily suspended the payment of dividends ~~effected~~on aits ~~one-for-twenty~~Series ~~reverse~~A ~~stock~~Preferred ~~split~~Stock in order to preserve capital.

~~The~~On ~~press~~February ~~release~~27, is2009, ~~attached~~the ~~hereto~~Company asannounced ~~Exhibit 99.1~~that ~~and~~it is ~~incorporated herein~~withdrawing ~~by this reference. The press release and the information in~~its ~~Item 8.01~~registration ofstatement ~~this Form 8-K shall not be deemed “filed”~~ for ~~purposes~~its ~~of Section 18~~proposed ofpublic ~~the~~offering ~~Securities Exchange Act~~ of ~~1934,~~stock ~~nor~~and ~~shall they be~~warrants ~~deemed~~and ~~incorporated~~that byits ~~reference~~board inof ~~any~~directors ~~filing~~has ~~under~~authorized the ~~Securities~~company ~~Act,~~to ~~except as~~begin ~~shall~~a beprocess of ~~expressly~~exploring ~~set~~strategic ~~forth~~alternatives byto ~~specific~~enhance ~~reference~~stockholder ~~in such filing~~value.


Item 9.01.	Financial Statements and Exhibits.


	(d)	Exhibits.

	Exhibit No.		Description
	99.1		Press Release issued ~~November~~February 1926, ~~2008~~2009
	99.2		Press Release issued February 27, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

November 19, 2008


March 5, 2009

	VELOCITY PORTFOLIO GROUP, INC.

	/s/ James J. Mastriani

	James J. Mastriani
	Chief Financial Officer

VELOCITY ASSET MANAGEMENT, INC. /s/ John C. Kleinert John C. Kleinert Chief Executive Officer

Filing Compare · VELOCITY PORTFOLIO GROUP INC